American food company Kraft Foods has outlined the strategic growth priorities for its snacks business, which will be known as Mondelēz International after the company spin-off its North American grocery business in October 2012.
Following the spin-off, the North American grocery business will be named Kraft Foods.
Kraft Foods Chairman and CEO Irene Rosenfeld said that with the spin-off of the North American grocery business, the global snacking company will be poised to deliver top-tier revenue and earnings growth.
Over the long-term, Mondelez International expects to generate a revenue growth of 5% to 7% and double-digit operating EPS growth on a constant-currency basis
For 2013, the snacks business expects to deliver results that are in line with the long-term outlook - an organic net revenue growth of 5% to 7% and Operating EPS of $1.50 to $1.55, including a significant foreign exchange affects of about $0.15 cents versus 2011 currency rates.
Kraft Foods executive vice president and CFO Dave Brearton said that Spin-off and debt-migration costs are expected to be in line with earlier guidance, however, restructuring costs at Mondelez International are expected to be higher due to additional restructuring programs in the US and Europe.
